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Oman’s OQEP Targets 300,000 Boe/D By 2030
...EP’s working interest was hovering around 40,000 boe/d until two major projects came online in 2017, driving rapid growth; namely the expansion of its Bisat oil field in Block 60 and the startup of the BP-led 1bn cfd first phase Khazzan tight gas project in Block 61 (BP 40%op, OQEP 30%, Petronas 10...
Volume: 69Issue: 12Published at Fri, 20 Mar 2026 -
BP Seeks To Build On Historic Middle East Foundations In ‘Return To Upstream’ Strategy
...ream. BP returned to the remodeled concession in December 2016, after the original concession agreement expired in 2014, and the current agreement runs until end-2054. Return to Adco lifted BP’s net Abu Dhabi output to a record 257,000 b/d in 2017, but after the offshore Adma concession expired at the en...
Volume: 68Issue: 12Published at Fri, 21 Mar 2025 -
Adnoc Partners With BPFor Transformative Israel Entry
...the new vertical. From May 2017 until January 2021 Mr Kaabi served as CEO of Mubadala’s Petroleum and Petrochemicals division, which through various subsidiaries including Mubadala Energy had established a global upstream energy presence. Shortly after Mr Kaabi moved to another role within Mu...
Volume: 66Issue: 13Published at Fri, 31 Mar 2023 -
IFAD Upper Zakum Contract Set For Q3 Launch
...gional producer still pricing its export grades against Platts Oman. Somo previously announced plans to make the switch to DME Oman back in 2017 (ahead of Aramco) but pulled back from making the move (MEES, 15 September 2017). An IFAD Upper Zakum contract may be a tempting benchmark for Somo to price ag...
Volume: 66Issue: 10Published at Fri, 10 Mar 2023 -
ARA PetroleumTargets 30,000 boe/d Oman Output
...troleum once it has been recommissioned (MEES, 24 February). BLOCK 44: NEW DRILLING CAMPAIGN ARA acquired Block 44 (100%) from Thai state firm PTTEP in August 2016 (MEES, 24 November 2017). It used to be ARA’s only gas producing asset, and primarily consists of numerous small non-as...
Volume: 66Issue: 10Published at Fri, 10 Mar 2023 -
Eni Cements Role As Algeria’s Key Foreign Partner With BP Purchase
...ENAS & IN SALAH GAS PROJECTS PRODUCED 540MN CFD EACH FOR 2022 WITH BOTH WELL DOWN ON 2017-18 LEVELS (MN CFD) ON A NET BASIS ENI (BP) AND FOREIGN PARTNER EQUINOR RECEIVE AND GAS FROM IN SALAH (BP/ENI 179MN CFD, EQUINOR 172MN CFD FOR 2022) AND LIQUIDS ONLY FROM IN AMENAS (15,700 B/D EACH FOR 20...
Volume: 66Issue: 09Published at Fri, 03 Mar 2023 -
Gulf Capex In the Crosshairs As Majors Eye Spending Cuts
...nounced it was cutting further to just $2.7-2.9bn for 2020, a whopping 47% midpoint reduction from its original $5.2-5.4bn plan. Oxy has since 2017 reversed a previous pullback from Mena, acquiring a swathe of exploration acreage across Oman as well as Abu Dhabi’s Onshore-3 block (MEES, 6 March). Fo...
Volume: 63Issue: 13Published at Fri, 27 Mar 2020 -
Dark Days Ahead For KRG Oil Sector
...re reached in 2017 (MEES, 1 September 2017). As with then, if low prices persist the KRG faces having to decide between making IOC payments and covering its own expenses (like salaries). If prices stay low, the KRG’s ambitious near-medium term plans to increase output may prove unsuccessful. Pr...
Volume: 63Issue: 12Published at Fri, 20 Mar 2020 -
Occidental’s Mideast Gas Output Booms
...oup. Amec Foster Wheeler in 2016-17 carried out the Feed study for the previous phase of Shah expansion (MEES, 15 September 2017) Oxy’s 24.5% stake in the Dolphin consortium which delivers Qatari gas via pipeline to the UAE and Oman netted it a three-year high 161mn cfd last year, including a re...
Volume: 63Issue: 10Published at Fri, 06 Mar 2020 -
Aramco’s $69.1bn Sabic Takeover Refuels PIF Ambitions
...presents an expansion from 2017’s 14.6mn t/y capacity. The 2017 total fell to 9.9mn t/y when excluding intermediate products (MEES, 24 August 2018). As for Sabic, 2018 petchems output totaled 61.6mn t/y of which up to two-thirds are intermediate products (MEES, 22 March). Even at 20mn t/y, this would still be...
Volume: 62Issue: 13Published at Fri, 29 Mar 2019 -
Oman Eyes $3.85bn Sri Lanka Refinery Project
...ES, 22 March). After upgrading the Sohar refinery to 197,000 b/d in 2017 (MEES, 17 February 2017), Oman is now pushing on with the $8bn Duqm refinery which will add an additional 230,000 b/d. A separate petrochemicals complex at Duqm is also slowly beginning to push forward – though construction is so...
Volume: 62Issue: 13Published at Fri, 29 Mar 2019 -
US Shale: Major Growth Planned, Indies Crimp Spending
...netheless opted in early 2017 for a second bite at Permian expansion with a $6bn purchase of more oil-focused acreage (MEES, 17 February 2017). The Permian is now central to Exxon’s global strategy. And key to Exxon’s Permian strategy is downstream integration: investment in petchems including with Sa...
Volume: 62Issue: 11Published at Fri, 15 Mar 2019 -
Egypt Oil Output To Fall As Key Producer Apache Slashes Investment
...llen in line with changes in drilling activity but with a lag of between 12 and 24 months. Most notably, the firm’s gross Egypt output slumped by 20,000 b/d between late 2015 and early 2017 as the firm slashed capex by 35% in 2015 and a further 45% in 2016 (see chart 3). This suggests that Apache’s gr...
Volume: 62Issue: 10Published at Fri, 08 Mar 2019 -
KRG-Pearl Reach 20yr Gas Sales Deal
...pipeline connection from the Kurdistan Region to its neighbors. Russia’s Rosneft agreed in 2017 to construct a 30 bcm/y pipeline to Turkey by 2020 but the absence of concrete progress means that deadline now looks unlikely (MEES, 22 September 2017). Elsewhere, partners at Pearl have told MEES th...
Volume: 62Issue: 10Published at Fri, 08 Mar 2019 -
Adnoc Advances Infrastructure Revamp With Storage, Pipeline Deals
...ores up to 6.29mn barrels at Kiire (MEES, 27 January 2017). UAE OIL & GAS INFRASTRUCTURE PIPELINE INVESTMENT PROJECT Shortly before the storage announcement, Adnoc confirmed that a deal had been reached to lease 18 crude oil and condensate pipelines to US investors Bl...
Volume: 62Issue: 09Published at Fri, 01 Mar 2019 -
Total Reasserts Position As Dominant IOC In Mena On Back Of Abu Dhabi Deal
...some 150,000 b/d less (MEES, 16 March). Abu Dhabi is the single largest source of oil in Total’s portfolio, so walking away from the Adma concession after its 8 March expiry would have been a major blow. At 278,000 b/d in 2017, Abu Dhabi provided 20% of Total’s total output, making it by far th...
Volume: 61Issue: 12Published at Fri, 23 Mar 2018 -
Shell Nears Iraq Exit As Itochu Takes WQ-1 Stake
...ocessed a record 676mn cfd gas from three giant fields in 2017 (MEES, 16 March). ...
Volume: 61Issue: 12Published at Fri, 23 Mar 2018 -
Shell Recommits To Egypt With Plans To Double Offshore Output
...rt of its takeover of the UK firm at the start of 2016 From 1.2bn cfd as recently as 2012, WDDM output fell to just 526mn cfd for the 2016-17 Egyptian financial year (to June 2017) and to 486mn cfd for the second half of 2017. Shell’s net Egypt gas output fell to just 335bn cfd for 2017, with the WD...
Volume: 61Issue: 12Published at Fri, 23 Mar 2018 -
DNO Quits Oman After Drilling Flop
...DNO is pulling out from its final Omani assets, located in the offshore Block 8 (DNO 50%, South Korea’s LG 50%), as it prepares to exit the Sultanate. The Norwegian firm confirmed in its 2017 Annual Report released 15 March that it has written down its Block 8 reserves to zero and “plans to re...
Volume: 61Issue: 11Published at Fri, 16 Mar 2018 -
Total Expands In Libya With Marathon Waha Purchase
....33% partner ConocoPhillips 45,000 b/d each. Hess has 8.16% with Libya’s National Oil Corporation (NOC) the remainder. Though output was shut in for two years from late 2014, it has since rebounded strongly, averaging 210,000 b/d for the last quarter of 2017 and 120,000 b/d for the year as a whole, ne...
Volume: 61Issue: 10Published at Fri, 09 Mar 2018